UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02737
Fidelity Summer Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | September 30 |
Date of reporting period: | March 31, 2023 |
Item 1.
Reports to Stockholders
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Contents
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
Bass Pro Group LLC | 2.9 | |
Asurion LLC | 1.8 | |
Intelsat Jackson Holdings SA | 1.2 | |
Fertitta Entertainment LLC NV | 1.1 | |
ABG Intermediate Holdings 2 LLC | 1.1 | |
Caesars Entertainment, Inc. | 1.0 | |
Acrisure LLC | 1.0 | |
TransDigm, Inc. | 0.9 | |
Altice France SA | 0.9 | |
Peraton Corp. | 0.9 | |
12.8 | ||
Market Sectors (% of Fund's net assets) | ||
Technology | 15.8 | |
Services | 9.9 | |
Telecommunications | 6.1 | |
Gaming | 4.9 | |
Healthcare | 4.8 | |
Quality Diversification (% of Fund's net assets) |
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Percentages shown as 0.0% may reflect amounts less than 0.05%. |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Asset Allocation (% of Fund's net assets) |
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Geographic Diversification (% of Fund's net assets) |
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* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are based on country or territory of incorporation and are adjusted for the effect of derivatives, if applicable. |
Bank Loan Obligations - 86.1% | |||
Principal Amount (a) | Value ($) | ||
Aerospace - 0.9% | |||
ADS Tactical, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.750% 10.5903% 3/19/26 (b)(c)(d) | 318,770 | 293,269 | |
Gemini HDPE LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.000% 7.83% 12/31/27 (b)(c)(d) | 277,186 | 275,858 | |
TransDigm, Inc.: | |||
1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.1483% 8/24/28 (b)(c)(d) | 1,276,311 | 1,271,525 | |
Tranche H 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.1483% 2/14/27 (b)(c)(d) | 199,242 | 198,790 | |
TOTAL AEROSPACE | 2,039,442 | ||
Air Transportation - 1.5% | |||
AAdvantage Loyalty IP Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.5577% 4/20/28 (b)(c)(d) | 455,000 | 461,384 | |
Air Canada Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.3694% 8/11/28 (b)(c)(d) | 383,075 | 381,520 | |
Dynasty Acquisition Co., Inc.: | |||
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.407% 4/8/26 (b)(c)(d) | 217,029 | 211,642 | |
Tranche B2 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.407% 4/4/26 (b)(c)(d) | 116,682 | 113,786 | |
Echo Global Logistics, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.5903% 11/23/28 (b)(c)(d)(e) | 343,275 | 330,608 | |
Mileage Plus Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.250% 10.2126% 7/2/27 (b)(c)(d) | 790,500 | 819,258 | |
Rand Parent LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.1273% 2/9/30 (b)(c)(d) | 95,000 | 89,092 | |
SkyMiles IP Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.5577% 10/20/27 (b)(c)(d) | 408,500 | 422,748 | |
United Airlines, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.5677% 4/21/28 (b)(c)(d) | 501,307 | 496,921 | |
TOTAL AIR TRANSPORTATION | 3,326,959 | ||
Automotive & Auto Parts - 1.2% | |||
American Trailer World Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.657% 3/5/28 (b)(c)(d) | 389,312 | 338,051 | |
Clarios Global LP Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 4/30/26 (b)(c)(d) | 252,784 | 250,888 | |
CWGS Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.22% 6/3/28 (b)(c)(d) | 717,033 | 659,133 | |
Les Schwab Tire Centers Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0636% 11/2/27 (b)(c)(d) | 432,494 | 427,901 | |
PECF USS Intermediate Holding III Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.0903% 12/17/28 (b)(c)(d) | 419,688 | 351,858 | |
RVR Dealership Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.5535% 2/8/28 (b)(c)(d) | 118,945 | 100,806 | |
Truck Hero, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 1/29/28 (b)(c)(d) | 450,800 | 399,161 | |
TOTAL AUTOMOTIVE & AUTO PARTS | 2,527,798 | ||
Banks & Thrifts - 0.8% | |||
Citadel Securities LP Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.4215% 2/27/28 (b)(c)(d) | 788,900 | 780,522 | |
Deerfield Dakota Holding LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.557% 4/9/27 (b)(c)(d) | 267,208 | 258,302 | |
Novae LLC 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.000% 9.6963% 12/22/28 (b)(c)(d) | 247,500 | 212,026 | |
Superannuation & Investments U.S. LLC 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 12/1/28 (b)(c)(d) | 182,688 | 181,454 | |
Walker & Dunlop, Inc.: | |||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.250% 7.157% 12/16/28 (b)(c)(d) | 182,688 | 178,577 | |
Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.907% 12/16/28 (b)(c)(d) | 30,000 | 29,550 | |
TOTAL BANKS & THRIFTS | 1,640,431 | ||
Broadcasting - 1.8% | |||
AppLovin Corp. Tranche B, term loan CME Term SOFR 1 Month Index + 3.350% 8.157% 8/15/25 (b)(c)(d) | 383,417 | 381,819 | |
Diamond Sports Group LLC: | |||
1LN, term loan CME Term SOFR 1 Month Index + 8.000% 12.7755% 5/25/26 (b)(c)(d) | 244,133 | 228,494 | |
2LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.0255% 8/24/26 (b)(c)(d) | 1,664,487 | 88,767 | |
Dotdash Meredith, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 8.7652% 12/1/28 (b)(c)(d) | 612,250 | 551,025 | |
Gray Television, Inc. Tranche D 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.662% 12/1/28 (b)(c)(d) | 280,922 | 272,671 | |
Nexstar Broadcasting, Inc. Tranche B, term loan 1 month U.S. LIBOR + 2.500% 7.3403% 9/19/26 (b)(c)(d) | 443,112 | 441,561 | |
Sinclair Television Group, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.35% 9/30/26 (b)(c)(d) | 463,200 | 423,828 | |
Springer Nature Deutschland GmbH Tranche B18 1LN, term loan 1 month U.S. LIBOR + 3.000% 8.1591% 8/14/26 (b)(c)(d) | 318,261 | 317,268 | |
Univision Communications, Inc.: | |||
1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.250% 9.1483% 6/10/29 (b)(c)(d) | 143,913 | 142,473 | |
Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 3.250% 7.8849% 3/24/26 (b)(c)(d) | 239,473 | 237,943 | |
1 month U.S. LIBOR + 3.250% 8.0903% 1/31/29 (b)(c)(d) | 811,800 | 795,061 | |
TOTAL BROADCASTING | 3,880,910 | ||
Building Materials - 2.5% | |||
Acproducts Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.4091% 5/17/28 (b)(c)(d) | 759,490 | 600,787 | |
APi Group DE, Inc. Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 2.500% 4.8403% 10/1/26 (b)(c)(d) | 97,997 | 97,874 | |
1 month U.S. LIBOR + 2.750% 7.5903% 1/3/29 (b)(c)(d) | 114,794 | 114,650 | |
DiversiTech Holdings, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.6591% 12/22/28 (b)(c)(d) | 227,897 | 214,579 | |
Hunter Douglas, Inc. Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 3.500% 8.3733% 2/25/29 (b)(c)(d) | 1,578,075 | 1,412,661 | |
Oscar AcquisitionCo LLC 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.500% 9.4983% 4/29/29 (b)(c)(d) | 501,543 | 482,319 | |
Smyrna Ready Mix LLC Tranche B 1lN, term loan CME Term SOFR 1 Month Index + 4.250% 9.157% 4/1/29 (b)(c)(d) | 343,435 | 340,859 | |
SRS Distribution, Inc. Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 3.500% 8.3403% 6/4/28 (b)(c)(d) | 652,179 | 628,537 | |
CME TERM SOFR 3 MONTH INDEX + 3.250% 8.157% 6/2/28 (b)(c)(d) | 197,803 | 190,336 | |
Standard Industries, Inc./New Jersey Tranche B 1LN, term loan 6 month U.S. LIBOR + 2.250% 7.1155% 9/22/28 (b)(c)(d) | 160,076 | 159,036 | |
Traverse Midstream Partners Ll Tranche B, term loan CME TERM SOFR 6 MONTH INDEX + 4.250% 8.7264% 2/16/28 (b)(c)(d) | 238,303 | 233,935 | |
USIC Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 5/14/28 (b)(c)(d) | 389,075 | 375,780 | |
White Capital Buyer LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.557% 10/19/27 (b)(c)(d) | 479,036 | 472,900 | |
TOTAL BUILDING MATERIALS | 5,324,253 | ||
Cable/Satellite TV - 1.8% | |||
Charter Communication Operating LLC Tranche B2 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.557% 2/1/27 (b)(c)(d) | 1,399,775 | 1,385,120 | |
Coral-U.S. Co.-Borrower LLC Tranche B, term loan 1 month U.S. LIBOR + 2.250% 6.9344% 1/31/28 (b)(c)(d) | 775,000 | 749,673 | |
CSC Holdings LLC: | |||
Tranche B 5LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.1844% 4/15/27 (b)(c)(d) | 353,952 | 311,552 | |
Tranche B6 LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.3271% 1/18/28 (b)(c)(d) | 481,250 | 444,434 | |
DIRECTV Financing LLC 1LN, term loan 1 month U.S. LIBOR + 5.000% 9.8403% 8/2/27 (b)(c)(d) | 111,357 | 106,940 | |
LCPR Loan Financing LLC 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.4344% 9/25/28 (b)(c)(d) | 240,000 | 236,251 | |
Virgin Media Bristol LLC: | |||
Tranche N, term loan 1 month U.S. LIBOR + 2.500% 7.1844% 1/31/28 (b)(c)(d) | 500,000 | 491,000 | |
Tranche Y 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.1128% 3/6/31 (b)(c)(d) | 225,000 | 221,625 | |
TOTAL CABLE/SATELLITE TV | 3,946,595 | ||
Capital Goods - 0.7% | |||
Chart Industries, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.5934% 12/8/29 (b)(c)(d) | 320,000 | 318,800 | |
CPM Holdings, Inc. 2LN, term loan 1 month U.S. LIBOR + 8.250% 12.912% 11/15/26 (b)(c)(d) | 107,727 | 105,977 | |
Griffon Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.5478% 1/24/29 (b)(c)(d) | 338,250 | 335,713 | |
MHI Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.000% 9.8403% 9/20/26 (b)(c)(d) | 439,392 | 438,571 | |
TNT Crane & Rigging LLC 2LN, term loan 3 month U.S. LIBOR + 8.750% 13.5039% 4/16/25 (b)(c)(d)(e) | 214,510 | 202,991 | |
TOTAL CAPITAL GOODS | 1,402,052 | ||
Chemicals - 2.5% | |||
ARC Falcon I, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 9/30/28 (b)(c)(d) | 430,365 | 387,398 | |
Aruba Investment Holdings LLC: | |||
2LN, term loan 1 month U.S. LIBOR + 7.750% 12.5903% 11/24/28 (b)(c)(d) | 135,000 | 120,825 | |
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 11/24/27 (b)(c)(d) | 490,924 | 477,831 | |
Avient Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 7.926% 8/29/29 (b)(c)(d) | 109,088 | 109,121 | |
Consolidated Energy Finance SA Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.1349% 5/7/25 (b)(c)(d)(e) | 368,438 | 357,384 | |
Discovery Purchaser Corp. 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.370% 8.9625% 10/4/29 (b)(c)(d) | 538,650 | 509,250 | |
Groupe Solmax, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.9091% 5/27/28 (b)(c)(d) | 247,481 | 219,639 | |
Herens U.S. Holdco Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.1591% 7/3/28 (b)(c)(d) | 324,266 | 299,696 | |
Hexion Holdings Corp. 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.500% 9.4536% 3/15/29 (b)(c)(d) | 645,125 | 575,374 | |
Hexion, Inc. 2LN, term loan CME Term SOFR 1 Month Index + 7.000% 12.2967% 2/9/30 (b)(c)(d) | 170,000 | 140,109 | |
ICP Group Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.9099% 12/29/27 (b)(c)(d) | 239,073 | 181,218 | |
INEOS U.S. Finance LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 2/10/30 (c)(d)(f) | 135,000 | 134,108 | |
INEOS U.S. Petrochem LLC 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.657% 3/1/30 (b)(c)(d) | 140,000 | 139,475 | |
Manchester Acquisition Sub LLC Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.750% 10.8063% 12/1/26 (b)(c)(d) | 162,938 | 135,781 | |
Olympus Water U.S. Holding Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.9375% 11/9/28 (b)(c)(d) | 434,500 | 410,659 | |
Starfruit U.S. Holdco LLC: | |||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 3/3/28 (c)(d)(f) | 175,000 | 174,344 | |
Tranche B, term loan 1 month U.S. LIBOR + 2.750% 7.526% 10/1/25 (b)(c)(d) | 332,156 | 329,070 | |
The Chemours Co. LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 1.750% 6.657% 4/3/25 (b)(c)(d) | 678,701 | 674,174 | |
TOTAL CHEMICALS | 5,375,456 | ||
Consumer Products - 2.3% | |||
19Th Holdings Golf LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 7.7984% 2/7/29 (b)(c)(d) | 426,863 | 395,915 | |
BCPE Empire Holdings, Inc. 1LN, term loan: | |||
CME Term SOFR 1 Month Index + 4.000% 8.8403% 6/11/26 (b)(c)(d) | 571,642 | 560,747 | |
CME Term SOFR 1 Month Index + 4.620% 9.532% 6/11/26 (b)(c)(d) | 299,244 | 295,076 | |
Bombardier Recreational Products, Inc. Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 2.000% 6.6349% 5/23/27 (b)(c)(d) | 155,974 | 151,393 | |
CME Term SOFR 1 Month Index + 3.000% 8.307% 5/23/27 (b)(c)(d) | 304,238 | 302,336 | |
CNT Holdings I Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.1254% 11/8/27 (b)(c)(d) | 490,000 | 481,180 | |
Diamond BC BV Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 7.5748% 9/29/28 (b)(c)(d) | 295,280 | 293,942 | |
Knowlton Development Corp., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 12/21/25 (b)(c)(d) | 315,937 | 305,141 | |
Kronos Acquisition Holdings, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.7034% 12/22/26 (b)(c)(d) | 515,120 | 493,944 | |
Mattress Firm, Inc. Tranche B 1LN, term loan 6 month U.S. LIBOR + 4.250% 9.39% 9/24/28 (b)(c)(d) | 377,935 | 352,046 | |
Petco Health & Wellness Co., Inc. Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 3.250% 8.0918% 3/4/28 (b)(c)(d) | 322,240 | 316,198 | |
Runner Buyer, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.500% 10.4534% 10/20/28 (b)(c)(d) | 252,450 | 186,566 | |
Sweetwater Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.125% 8/5/28 (b)(c)(d) | 325,788 | 307,869 | |
TGP Holdings III LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0753% 6/29/28 (b)(c)(d) | 94,132 | 74,204 | |
Woof Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.5293% 12/21/27 (b)(c)(d) | 397,642 | 379,749 | |
TOTAL CONSUMER PRODUCTS | 4,896,306 | ||
Containers - 2.5% | |||
AOT Packaging Products AcquisitionCo LLC 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 3/3/28 (b)(c)(d) | 510,333 | 497,483 | |
Berlin Packaging, LLC Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 3.250% 7.95% 3/11/28 (b)(c)(d) | 88,200 | 85,444 | |
1 month U.S. LIBOR + 3.750% 8.4232% 3/11/28 (b)(c)(d) | 761,537 | 748,621 | |
Berry Global, Inc. Tranche Z 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.5097% 7/1/26 (b)(c)(d) | 466,479 | 464,440 | |
Canister International Group, Inc. 1LN, term loan 1 month U.S. LIBOR + 4.750% 9.657% 12/21/26 (b)(c)(d) | 242,500 | 242,047 | |
Charter NEX U.S., Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.6715% 12/1/27 (b)(c)(d) | 460,600 | 454,124 | |
Graham Packaging Co., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 8/4/27 (b)(c)(d) | 763,254 | 755,148 | |
Kloeckner Pentaplast of America, Inc. Tranche B 1LN, term loan CME TERM SOFR 6 MONTH INDEX + 4.750% 10.1293% 2/9/26 (b)(c)(d) | 313,600 | 287,468 | |
Pregis TopCo Corp. 1LN, term loan: | |||
3 month U.S. LIBOR + 3.750% 8.5903% 8/1/26 (b)(c)(d) | 246,250 | 239,018 | |
3 month U.S. LIBOR + 4.000% 8.6715% 7/31/26 (b)(c)(d) | 241,875 | 235,465 | |
Reynolds Consumer Products LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 1.750% 6.657% 1/30/27 (b)(c)(d) | 589,908 | 584,746 | |
Reynolds Group Holdings, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 9/24/28 (b)(c)(d) | 423,550 | 417,078 | |
Ring Container Technologies Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 8/12/28 (b)(c)(d) | 301,188 | 299,305 | |
TOTAL CONTAINERS | 5,310,387 | ||
Diversified Financial Services - 2.2% | |||
ACNR Holdings, Inc. term loan 20.8219% 9/16/25 (b)(d)(e) | 26,880 | 27,014 | |
AlixPartners LLP Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.6087% 2/4/28 (b)(c)(d) | 272,873 | 271,594 | |
AVSC Holding Corp. Tranche B2 1LN, term loan 3 month U.S. LIBOR + 5.500% 10.3061% 10/15/26 (b)(c)(d) | 371,078 | 359,282 | |
BCP Renaissance Parent LLC Tranche B3 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 3.500% 8.3983% 10/31/26 (b)(c)(d) | 410,773 | 406,563 | |
Broadstreet Partners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 1/27/27 (b)(c)(d) | 182,225 | 178,240 | |
Eagle 4 Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.4091% 7/12/28 (b)(c)(d) | 241,255 | 237,998 | |
Finco I LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.3403% 6/27/25 (b)(c)(d) | 92,105 | 92,029 | |
Focus Financial Partners LLC: | |||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.307% 6/24/28 (b)(c)(d) | 122,870 | 120,764 | |
Tranche B5 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.057% 6/30/28 (b)(c)(d) | 378,100 | 373,793 | |
GT Polaris, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5753% 9/24/27 (b)(c)(d) | 312,816 | 292,483 | |
HarbourVest Partners LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.250% 7.0797% 3/1/25 (b)(c)(d) | 404,737 | 403,726 | |
Hightower Holding LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 8.8153% 4/21/28 (b)(c)(d) | 310,275 | 292,434 | |
Nexus Buyer LLC 2LN, term loan 1 month U.S. LIBOR + 6.250% 11.0903% 11/5/29 (b)(c)(d) | 220,000 | 192,500 | |
RCS Capital Corp. 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 3/8/30 (c)(d)(f) | 100,000 | 98,188 | |
TransUnion LLC: | |||
Tranche B5 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 11/16/26 (b)(c)(d) | 421,014 | 417,405 | |
Tranche B6 1LN, term loan 1 month U.S. LIBOR + 2.250% 7.0903% 12/1/28 (b)(c)(d) | 240,242 | 238,039 | |
UFC Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 7.57% 4/29/26 (b)(c)(d) | 205,149 | 203,834 | |
WH Borrower LLC Tranche B 1LN, term loan: | |||
CME Term SOFR 1 Month Index + 5.500% 10.1576% 2/9/27 (b)(c)(d) | 366,976 | 355,967 | |
CME Term SOFR 1 Month Index + 5.500% 10.1595% 2/15/27 (b)(c)(d) | 230,000 | 224,250 | |
TOTAL DIVERSIFIED FINANCIAL SERVICES | 4,786,103 | ||
Diversified Media - 0.8% | |||
Advantage Sales & Marketing, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.2884% 10/28/27 (b)(c)(d) | 481,768 | 411,912 | |
Allen Media LLC Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.500% 10.5483% 2/10/27 (b)(c)(d) | 761,369 | 658,585 | |
Terrier Media Buyer, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.6591% 12/17/26 (b)(c)(d) | 771,056 | 679,300 | |
TOTAL DIVERSIFIED MEDIA | 1,749,797 | ||
Energy - 2.5% | |||
Apro LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.758% 11/14/26 (b)(c)(d) | 394,828 | 385,944 | |
Array Technologies, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.1721% 10/14/27 (b)(c)(d) | 398,512 | 390,043 | |
BW Gas & Convenience Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 3/17/28 (b)(c)(d) | 275,100 | 268,223 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.6591% 6/4/28 (b)(c)(d) | 1,046,278 | 1,036,998 | |
Delek U.S. Holdings, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.407% 11/19/29 (b)(c)(d) | 209,475 | 203,779 | |
EG Finco Ltd. Tranche B, term loan 3 month U.S. LIBOR + 4.000% 9.1511% 2/6/25 (b)(c)(d) | 299,250 | 285,410 | |
Esdec Solar Group BV Tranche B 1LN, term loan 6 month U.S. LIBOR + 4.750% 9.9596% 8/27/28 (b)(c)(d) | 231,250 | 227,781 | |
GIP II Blue Holding LP Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.500% 9.6591% 9/29/28 (b)(c)(d) | 550,938 | 546,806 | |
GIP III Stetson I LP Tranche B, term loan 1 month U.S. LIBOR + 4.250% 9.0903% 7/18/25 (b)(c)(d) | 413,073 | 410,492 | |
Par Petroleum LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.2405% 2/14/30 (b)(c)(d) | 155,000 | 151,900 | |
RelaDyne, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.7765% 12/23/28 (b)(c)(d) | 440,000 | 425,150 | |
Rockwood Service Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.0903% 1/23/27 (b)(c)(d) | 315,164 | 312,898 | |
WaterBridge Operating LLC Tranche B 1LN, term loan 6 month U.S. LIBOR + 5.750% 10.5677% 6/21/26 (b)(c)(d) | 361,875 | 355,032 | |
Win Waste Innovations Holdings Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 7.6715% 3/25/28 (b)(c)(d) | 315,232 | 297,945 | |
TOTAL ENERGY | 5,298,401 | ||
Entertainment/Film - 0.2% | |||
AP Core Holdings II LLC: | |||
Tranche B1 1LN, term loan 1 month U.S. LIBOR + 5.500% 10.3403% 9/1/27 (b)(c)(d) | 185,000 | 179,759 | |
Tranche B2 1LN, term loan 1 month U.S. LIBOR + 5.500% 10.3403% 9/1/27 (b)(c)(d) | 200,000 | 194,334 | |
TOTAL ENTERTAINMENT/FILM | 374,093 | ||
Environmental - 0.5% | |||
Clean Harbors, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.000% 6.8403% 10/8/28 (b)(c)(d) | 143,188 | 143,653 | |
Covanta Holding Corp.: | |||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.1176% 11/30/28 (b)(c)(d) | 400,640 | 398,468 | |
Tranche C 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.307% 11/30/28 (b)(c)(d) | 30,314 | 30,149 | |
Madison IAQ LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.3023% 6/21/28 (b)(c)(d) | 453,567 | 430,888 | |
TOTAL ENVIRONMENTAL | 1,003,158 | ||
Food & Drug Retail - 0.3% | |||
Cardenas Merger Sub, LLC 1LN, term loan CME TERM SOFR 6 MONTH INDEX + 6.750% 11.7483% 8/1/29 (b)(c)(d) | 184,075 | 181,544 | |
Froneri U.S., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.250% 7.4091% 1/29/27 (b)(c)(d) | 285,263 | 280,819 | |
JP Intermediate B LLC Tranche B, term loan 3 month U.S. LIBOR + 5.500% 10.3253% 11/20/25 (b)(c)(d) | 446,978 | 259,247 | |
TOTAL FOOD & DRUG RETAIL | 721,610 | ||
Food/Beverage/Tobacco - 1.3% | |||
8th Avenue Food & Provisions, Inc.: | |||
2LN, term loan 1 month U.S. LIBOR + 7.750% 12.3849% 10/1/26 (b)(c)(d) | 80,000 | 50,743 | |
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 10/1/25 (b)(c)(d) | 136,265 | 119,551 | |
Bengal Debt Merger Sub LLC: | |||
1LN, term loan CME TERM SOFR 3 MONTH INDEX + 3.250% 8.2483% 1/24/29 (b)(c)(d) | 416,850 | 365,552 | |
2LN, term loan CME TERM SOFR 3 MONTH INDEX + 6.000% 10.9983% 1/24/30 (b)(c)(d) | 185,000 | 137,979 | |
Chobani LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.4215% 10/23/27 (b)(c)(d) | 408,153 | 404,072 | |
Del Monte Foods, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.1092% 5/16/29 (b)(c)(d) | 719,445 | 699,063 | |
Shearer's Foods, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 9/23/27 (b)(c)(d) | 388,657 | 378,941 | |
Triton Water Holdings, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.6591% 3/31/28 (b)(c)(d) | 776,176 | 693,708 | |
TOTAL FOOD/BEVERAGE/TOBACCO | 2,849,609 | ||
Gaming - 4.2% | |||
Bally's Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 7.9586% 10/1/28 (b)(c)(d) | 335,315 | 319,451 | |
Caesars Entertainment, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.157% 1/26/30 (b)(c)(d) | 1,955,000 | 1,942,508 | |
Churchill Downs, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.000% 6.85% 3/17/28 (b)(c)(d) | 294,000 | 291,795 | |
Fertitta Entertainment LLC NV Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 8.807% 1/27/29 (b)(c)(d) | 2,363,144 | 2,322,593 | |
Flutter Financing B.V. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.4099% 7/4/28 (b)(c)(d) | 149,250 | 149,056 | |
Golden Entertainment, Inc. Tranche B, term loan 3 month U.S. LIBOR + 3.000% 7.86% 10/20/24 (b)(c)(d) | 558,247 | 556,852 | |
GVC Holdings Gibraltar Ltd.: | |||
Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.4368% 10/31/29 (b)(c)(d) | 214,463 | 214,598 | |
Tranche B4 1LN, term loan 3 month U.S. LIBOR + 2.250% 7.4368% 3/16/27 (b)(c)(d) | 275,100 | 274,137 | |
J&J Ventures Gaming LLC 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.1591% 4/26/28 (b)(c)(d) | 280,725 | 271,018 | |
PCI Gaming Authority 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.3403% 5/29/26 (b)(c)(d) | 295,299 | 294,726 | |
Scientific Games Corp. 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.9603% 4/14/29 (b)(c)(d) | 451,588 | 447,446 | |
Scientific Games Holdings LP term loan CME TERM SOFR 3 MONTH INDEX + 3.500% 8.1028% 4/4/29 (b)(c)(d) | 487,550 | 479,856 | |
Stars Group Holdings BV Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.250% 7.4091% 7/21/26 (b)(c)(d) | 890,611 | 888,946 | |
Station Casinos LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.250% 7.1% 2/7/27 (b)(c)(d) | 647,071 | 640,892 | |
TOTAL GAMING | 9,093,874 | ||
Healthcare - 4.7% | |||
AHP Health Partners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 8/24/28 (b)(c)(d) | 296,170 | 290,247 | |
Avantor Funding, Inc. Tranche B5 1LN, term loan 1 month U.S. LIBOR + 2.250% 7.0903% 11/6/27 (b)(c)(d) | 347,191 | 346,486 | |
Charlotte Buyer, Inc. Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.250% 10.097% 2/12/28 (b)(c)(d) | 169,575 | 161,627 | |
Da Vinci Purchaser Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.9534% 12/13/26 (b)(c)(d) | 452,697 | 426,952 | |
Elanco Animal Health, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.412% 8/1/27 (b)(c)(d) | 587,076 | 573,450 | |
Electron BidCo, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 11/1/28 (b)(c)(d) | 177,404 | 174,553 | |
Embecta Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.7914% 3/31/29 (b)(c)(d) | 307,989 | 302,984 | |
Gainwell Acquisition Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 8.9983% 10/1/27 (b)(c)(d) | 1,429,247 | 1,361,357 | |
HAH Group Holding Co. LLC 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.000% 10/29/27 (c)(d)(f) | 115,000 | 111,742 | |
Horizon Pharma U.S.A., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.5625% 3/15/28 (b)(c)(d) | 279,300 | 278,602 | |
ICU Medical, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.500% 7.5483% 1/6/29 (b)(c)(d) | 316,800 | 312,248 | |
Insulet Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.1715% 5/4/28 (b)(c)(d) | 515,813 | 514,363 | |
Jazz Financing Lux SARL Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 5/5/28 (b)(c)(d) | 745,539 | 741,968 | |
Maravai Intermediate Holdings LLC Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 3.000% 7.633% 10/19/27 (b)(c)(d) | 235,390 | 233,918 | |
MED ParentCo LP: | |||
1LN, term loan 1 month U.S. LIBOR + 4.250% 9.0903% 8/31/26 (b)(c)(d) | 275,260 | 240,646 | |
2LN, term loan 1 month U.S. LIBOR + 8.250% 13.0903% 8/30/27 (b)(c)(d) | 180,000 | 137,160 | |
Mozart Borrower LP Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 10/23/28 (b)(c)(d) | 559,164 | 544,575 | |
Organon & Co. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.000% 8% 6/2/28 (b)(c)(d) | 572,777 | 571,820 | |
Packaging Coordinators Midco, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.6591% 11/30/27 (b)(c)(d) | 367,500 | 358,511 | |
Pathway Vet Alliance LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.5903% 3/31/27 (b)(c)(d) | 498,917 | 436,273 | |
Phoenix Newco, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 7.8849% 11/15/28 (b)(c)(d) | 711,049 | 701,983 | |
PRA Health Sciences, Inc. Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 2.250% 7.6599% 7/3/28 (b)(c)(d) | 304,643 | 303,628 | |
Surgery Center Holdings, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.46% 8/31/26 (b)(c)(d) | 216,914 | 215,337 | |
U.S. Anesthesia Partners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 8.912% 10/1/28 (b)(c)(d) | 471,258 | 453,586 | |
Upstream Newco, Inc. 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.4099% 11/20/26 (b)(c)(d) | 288,238 | 226,028 | |
TOTAL HEALTHCARE | 10,020,044 | ||
Homebuilders/Real Estate - 0.9% | |||
Breakwater Energy Tranche B 1LN, term loan 11% 9/1/26 (b)(d)(e) | 463,729 | 440,543 | |
DTZ U.S. Borrower LLC Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 2.750% 7.5903% 8/21/25 (b)(c)(d) | 256,935 | 250,062 | |
CME Term SOFR 1 Month Index + 3.250% 8.157% 1/24/30 (b)(c)(d) | 324,087 | 311,934 | |
Fluidra Finco SL Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.000% 6.907% 1/27/29 (b)(c)(d) | 367,883 | 361,706 | |
Lightstone Holdco LLC: | |||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.750% 10.557% 1/30/27 (b)(c)(d) | 226,258 | 193,224 | |
Tranche C 1LN, term loan CME Term SOFR 1 Month Index + 5.750% 10.557% 1/30/27 (b)(c)(d) | 12,797 | 10,929 | |
Ryan Specialty Group LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.907% 9/1/27 (b)(c)(d) | 287,303 | 286,226 | |
TOTAL HOMEBUILDERS/REAL ESTATE | 1,854,624 | ||
Hotels - 2.1% | |||
ASP LS Acquisition Corp. Tranche B 1LN, term loan 6 month U.S. LIBOR + 4.500% 9.6591% 4/30/28 (b)(c)(d) | 369,375 | 312,783 | |
BRE/Everbright M6 Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.000% 9.719% 9/9/26 (b)(c)(d) | 139,285 | 137,892 | |
Carnival Finance LLC Tranche B 1LN, term loan: | |||
6 month U.S. LIBOR + 3.000% 7.8403% 6/30/25 (b)(c)(d) | 403,588 | 397,433 | |
6 month U.S. LIBOR + 3.250% 8.0903% 10/18/28 (b)(c)(d) | 561,110 | 547,257 | |
Four Seasons Hotels Ltd. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.157% 11/30/29 (b)(c)(d) | 74,813 | 74,729 | |
Hilton Grand Vacations Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 8/2/28 (b)(c)(d) | 1,379,612 | 1,377,543 | |
Hilton Worldwide Finance LLC Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 1.750% 6.6424% 6/21/26 (b)(c)(d) | 126,445 | 126,234 | |
Marriott Ownership Resorts, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 8/31/25 (b)(c)(d) | 397,104 | 394,622 | |
Oravel Stays Singapore Pte Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 8.250% 13.27% 6/23/26 (b)(c)(d) | 255,450 | 218,836 | |
Playa Resorts Holding BV Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 8.9934% 1/5/29 (b)(c)(d) | 229,425 | 227,775 | |
Travelport Finance Luxembourg SARL 1LN, term loan 3 month U.S. LIBOR + 8.750% 13.4799% 2/28/25 (b)(c)(d) | 794,903 | 813,289 | |
TOTAL HOTELS | 4,628,393 | ||
Insurance - 4.5% | |||
Acrisure LLC Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 3.500% 8.3403% 2/13/27 (b)(c)(d) | 1,121,518 | 1,083,196 | |
1 month U.S. LIBOR + 4.250% 9.0903% 2/15/27 (b)(c)(d) | 653,517 | 638,610 | |
CME Term SOFR 1 Month Index + 5.750% 10.4473% 2/15/27 (b)(c)(d) | 329,175 | 325,883 | |
Alliant Holdings Intermediate LLC: | |||
Tranche B3 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.2793% 11/12/27 (b)(c)(d) | 200,553 | 197,970 | |
Tranche B5 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.347% 11/5/27 (b)(c)(d) | 396,950 | 391,762 | |
AmWINS Group, Inc. Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 2.250% 7.0903% 2/19/28 (b)(c)(d) | 589,567 | 581,726 | |
CME Term SOFR 1 Month Index + 2.750% 7.657% 2/19/28 (b)(c)(d) | 139,650 | 138,777 | |
Amynta Agency Borrower, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.9905% 2/28/28 (b)(c)(d) | 225,000 | 215,381 | |
AssuredPartners, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 2/13/27 (b)(c)(d) | 440,213 | 435,370 | |
Asurion LLC: | |||
Tranche B11 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.157% 8/19/28 (b)(c)(d) | 592,500 | 547,879 | |
Tranche B3 2LN, term loan 1 month U.S. LIBOR + 5.250% 10.0903% 1/31/28 (b)(c)(d) | 1,005,000 | 833,145 | |
Tranche B4 2LN, term loan 1 month U.S. LIBOR + 5.250% 10.0903% 1/20/29 (b)(c)(d) | 525,000 | 431,550 | |
Tranche B8 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 12/23/26 (b)(c)(d) | 977,500 | 904,539 | |
Tranche B9 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 7/31/27 (b)(c)(d) | 592,900 | 542,504 | |
HUB International Ltd.: | |||
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0577% 4/25/25 (b)(c)(d) | 846,759 | 843,889 | |
Tranche B, term loan 3 month U.S. LIBOR + 3.000% 7.8177% 4/25/25 (b)(c)(d) | 767,156 | 763,988 | |
USI, Inc. 1LN, term loan: | |||
1 month U.S. LIBOR + 3.250% 8.4091% 12/2/26 (b)(c)(d) | 120,942 | 120,640 | |
CME Term SOFR 1 Month Index + 3.750% 8.6483% 11/22/29 (b)(c)(d) | 746,388 | 742,790 | |
TOTAL INSURANCE | 9,739,599 | ||
Leisure - 2.5% | |||
Alterra Mountain Co. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 8/17/28 (b)(c)(d) | 355,840 | 354,061 | |
Arcis Golf LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.0903% 11/24/28 (b)(c)(d) | 207,900 | 206,341 | |
City Football Group Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.7793% 7/21/28 (b)(c)(d) | 707,850 | 673,342 | |
Crown Finance U.S., Inc.: | |||
1LN, term loan CME Term SOFR 1 Month Index + 10.000% 14.8399% 9/9/23 (b)(c)(d) | 202,735 | 205,107 | |
Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 4.2497% 9/30/26 (b)(c)(d) | 365,618 | 53,369 | |
Delta 2 SARL Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.057% 1/15/30 (b)(c)(d) | 630,000 | 630,265 | |
Equinox Holdings, Inc.: | |||
Tranche 2LN, term loan 3 month U.S. LIBOR + 7.000% 11.7299% 9/8/24 (b)(c)(d) | 250,000 | 175,938 | |
Tranche B-1, term loan 3 month U.S. LIBOR + 3.000% 8.1591% 3/8/24 (b)(c)(d) | 705,206 | 637,154 | |
Herschend Entertainment Co. LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.625% 8/27/28 (b)(c)(d) | 187,150 | 185,591 | |
Lids Holdings, Inc. 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.500% 10.3929% 12/14/26 (b)(c)(d)(e) | 354,375 | 331,341 | |
PlayPower, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.500% 12% 5/10/26 (b)(c)(d) | 111,382 | 80,752 | |
SeaWorld Parks & Entertainment, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.875% 8/25/28 (b)(c)(d) | 295,500 | 294,023 | |
SP PF Buyer LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.3403% 12/21/25 (b)(c)(d) | 360,000 | 218,880 | |
Topgolf Callaway Brands Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.2595% 3/9/30 (b)(c)(d) | 555,000 | 550,926 | |
United PF Holdings LLC: | |||
1LN, term loan 3 month U.S. LIBOR + 4.000% 9.1591% 12/30/26 (b)(c)(d) | 605,260 | 491,017 | |
2LN, term loan 3 month U.S. LIBOR + 8.500% 13.2299% 12/30/27 (b)(c)(d) | 125,000 | 92,813 | |
Tranche B 1LN, term loan 1 month U.S. LIBOR + 8.500% 13.2299% 12/30/26 (b)(c)(d)(e) | 131,625 | 113,198 | |
TOTAL LEISURE | 5,294,118 | ||
Metals/Mining - 0.1% | |||
U.S. Silica Co. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 3/17/30 (c)(d)(f) | 230,000 | 223,291 | |
Paper - 0.8% | |||
Ahlstrom-Munksjo OYJ 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.4799% 2/4/28 (b)(c)(d) | 244,356 | 237,790 | |
Clydesdale Acquisition Holdings, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 4.170% 9.082% 4/13/29 (b)(c)(d) | 1,513,563 | 1,476,102 | |
TOTAL PAPER | 1,713,892 | ||
Publishing/Printing - 0.5% | |||
Harland Clarke Holdings Corp. 1LN, term loan CME Term SOFR 1 Month Index + 7.750% 12.6715% 6/16/26 (b)(c)(d) | 446,928 | 369,645 | |
Learning Care Group (U.S.) No 2, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 8.500% 13.3746% 3/13/25 (b)(c)(d) | 330,650 | 326,104 | |
MJH Healthcare Holdings LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.407% 1/28/29 (b)(c)(d) | 198,000 | 192,803 | |
RLG Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.8403% 7/8/28 (b)(c)(d) | 281,438 | 270,813 | |
TOTAL PUBLISHING/PRINTING | 1,159,365 | ||
Railroad - 1.0% | |||
AIT Worldwide Logistics Holdings, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.4514% 4/6/28 (b)(c)(d) | 290,575 | 279,920 | |
Echo Global Logistics, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 11/23/28 (b)(c)(d) | 460,195 | 445,073 | |
First Student Bidco, Inc.: | |||
Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.000% 7.7264% 7/21/28 (b)(c)(d) | 345,738 | 330,366 | |
Tranche C 1LN, term loan 3 month U.S. LIBOR + 3.000% 7.7264% 7/21/28 (b)(c)(d) | 129,271 | 123,523 | |
Genesee & Wyoming, Inc. 1LN, term loan 3 month U.S. LIBOR + 2.000% 6.9983% 12/30/26 (b)(c)(d) | 518,950 | 514,788 | |
Worldwide Express, Inc. 1LN, term loan 1 month U.S. LIBOR + 4.000% 9.1599% 7/22/28 (b)(c)(d) | 429,563 | 415,198 | |
TOTAL RAILROAD | 2,108,868 | ||
Restaurants - 0.9% | |||
Burger King Worldwide, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 11/19/26 (b)(c)(d) | 349,854 | 346,065 | |
Dave & Buster's, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.9375% 6/29/29 (b)(c)(d) | 223,875 | 223,501 | |
Flynn Restaurant Group LP Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.250% 9.0903% 11/22/28 (b)(c)(d) | 153,063 | 148,318 | |
PFC Acquisition Corp. Tranche B 1LN, term loan 3 month U.S. LIBOR + 6.500% 11.3403% 3/1/26 (b)(c)(d) | 360,000 | 324,000 | |
Restaurant Technologies, Inc. Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.250% 9.1483% 4/1/29 (b)(c)(d) | 183,150 | 180,762 | |
Whatabrands LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 8/3/28 (b)(c)(d) | 751,024 | 742,056 | |
TOTAL RESTAURANTS | 1,964,702 | ||
Services - 9.4% | |||
ABG Intermediate Holdings 2 LLC: | |||
Tranche B 2LN, term loan CME Term SOFR 1 Month Index + 6.000% 10.907% 12/20/29 (b)(c)(d) | 210,000 | 193,200 | |
Tranche B1 LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.407% 12/21/28 (b)(c)(d) | 1,223,415 | 1,203,021 | |
Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 9.4067% 12/21/28 (b)(c)(d) | 617,531 | 609,503 | |
Tranche DD 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 12/21/28 (b)(c)(d)(g) | 202,469 | 199,837 | |
Adtalem Global Education, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.8403% 8/12/28 (b)(c)(d) | 65,725 | 65,623 | |
AEA International Holdings Luxembourg SARL Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.9375% 9/7/28 (b)(c)(d) | 212,313 | 210,720 | |
All-Star Bidco AB: | |||
Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 8.9534% 11/16/28 (b)(c)(d) | 158,000 | 156,815 | |
Tranche B1 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.4534% 11/16/28 (b)(c)(d) | 311,850 | 307,369 | |
Allied Universal Holdco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.657% 5/14/28 (b)(c)(d) | 591,495 | 560,761 | |
APX Group, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.2545% 7/9/28 (b)(c)(d) | 418,625 | 415,933 | |
Aramark Services, Inc. Tranche B 3LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 3/11/25 (b)(c)(d) | 114,325 | 113,896 | |
Ascend Learning LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.407% 12/10/28 (b)(c)(d) | 419,688 | 386,637 | |
Asurion LLC 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.000% 8.907% 8/19/28 (b)(c)(d) | 994,935 | 915,967 | |
Avis Budget Group, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.407% 3/16/29 (b)(c)(d) | 94,050 | 93,757 | |
Brand Energy & Infrastructure Services, Inc. Tranche B, term loan 3 month U.S. LIBOR + 4.250% 9.07% 6/21/24 (b)(c)(d) | 1,310,088 | 1,218,657 | |
Brown Group Holding LLC Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.4624% 6/9/29 (b)(c)(d) | 99,500 | 99,322 | |
Cast & Crew Payroll LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 2/7/26 (b)(c)(d) | 469,362 | 468,188 | |
CHG Healthcare Services, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 9/30/28 (b)(c)(d) | 201,554 | 199,381 | |
CoreLogic, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.375% 6/2/28 (b)(c)(d) | 994,850 | 845,981 | |
EAB Global, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.3403% 8/16/28 (b)(c)(d) | 167,875 | 163,804 | |
EmployBridge LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.4969% 7/19/28 (b)(c)(d) | 502,350 | 417,789 | |
Ensemble RCM LLC 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.526% 8/1/26 (b)(c)(d) | 259,769 | 259,379 | |
Filtration Group Corp. Tranche B, term loan 3 month U.S. LIBOR + 3.000% 7.6349% 3/29/25 (b)(c)(d) | 447,271 | 445,522 | |
Finastra U.S.A., Inc.: | |||
Tranche 2LN, term loan 3 month U.S. LIBOR + 7.250% 12.0753% 6/13/25 (b)(c)(d) | 190,000 | 151,827 | |
Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.3253% 6/13/24 (b)(c)(d) | 789,527 | 736,163 | |
Flexera Software LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 3/3/28 (b)(c)(d) | 194,802 | 191,880 | |
Franchise Group, Inc. Tranche B 1LN, term loan: | |||
3 month U.S. LIBOR + 4.750% 9.5625% 3/10/26 (b)(c)(d) | 511,426 | 494,166 | |
CME TERM SOFR 3 MONTH INDEX + 4.750% 9.6971% 3/10/26 (b)(c)(d) | 160,000 | 154,600 | |
Galaxy U.S. Opco, Inc. 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.557% 4/29/29 (b)(c)(d) | 273,625 | 241,474 | |
Gateway Merger Sub 2021, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.250% 10.0828% 6/30/28 (b)(c)(d) | 138,593 | 133,396 | |
GEMS MENASA Cayman Ltd. Tranche B 1LN, term loan 6 month U.S. LIBOR + 5.000% 9.9534% 7/30/26 (b)(c)(d) | 514,649 | 514,005 | |
Greeneden U.S. Holdings II LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.8403% 12/1/27 (b)(c)(d) | 367,500 | 361,469 | |
Indy U.S. Bidco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 3/5/28 (b)(c)(d) | 333,226 | 280,119 | |
Ion Trading Finance Ltd. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.9091% 3/26/28 (b)(c)(d) | 951,978 | 894,269 | |
KNS Acquisitions, Inc. Tranche B 1LN, term loan 6 month U.S. LIBOR + 6.250% 11.1715% 4/21/27 (b)(c)(d) | 264,688 | 231,326 | |
KUEHG Corp. Tranche B, term loan 1 month U.S. LIBOR + 3.750% 8.9091% 2/21/25 (b)(c)(d) | 697,745 | 684,084 | |
Maverick Purchaser Sub LLC: | |||
Tranche B 1LN, term loan: | |||
1 month U.S. LIBOR + 4.000% 8.8403% 1/23/27 (b)(c)(d) | 687,375 | 673,627 | |
CME Term SOFR 1 Month Index + 4.000% 8.9061% 2/16/29 (b)(c)(d) | 158,800 | 154,897 | |
Tranche B 2LN, term loan 1 month U.S. LIBOR + 8.750% 13.5903% 1/31/28 (b)(c)(d) | 200,000 | 183,250 | |
Neptune BidCo U.S., Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.735% 4/11/29 (b)(c)(d) | 1,110,000 | 996,225 | |
PowerTeam Services LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 8.6591% 3/6/25 (b)(c)(d) | 329,138 | 277,769 | |
Sabert Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.375% 12/10/26 (b)(c)(d) | 477,842 | 475,453 | |
Sedgwick Claims Management Services, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.557% 2/24/28 (b)(c)(d) | 135,000 | 133,115 | |
Spin Holdco, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 8.9857% 3/4/28 (b)(c)(d) | 1,470,000 | 1,229,023 | |
The GEO Group, Inc. Tranche 1B 1LN, term loan CME Term SOFR 1 Month Index + 7.120% 11.932% 3/23/27 (b)(c)(d) | 248,659 | 251,509 | |
Uber Technologies, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.7205% 3/3/30 (b)(c)(d) | 826,928 | 824,604 | |
Vaco Holdings LLC 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 10.0483% 1/21/29 (b)(c)(d) | 202,438 | 198,389 | |
WMB Holdings, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.157% 11/3/29 (b)(c)(d) | 205,863 | 205,284 | |
TOTAL SERVICES | 20,222,985 | ||
Specialty Retailing - 0.1% | |||
New SK Holdco Sub LLC 1LN, term loan CME Term SOFR 1 Month Index + 8.350% 13.1062% 6/30/27 (b)(c)(d) | 347,588 | 282,127 | |
Steel - 0.2% | |||
JMC Steel Group, Inc. 1LN, term loan 1 month U.S. LIBOR + 2.000% 7.0177% 1/24/27 (b)(c)(d) | 479,805 | 473,208 | |
Super Retail - 4.3% | |||
Academy Ltd. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.412% 11/6/27 (b)(c)(d) | 303,125 | 302,179 | |
At Home Group, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.250% 9.0039% 7/24/28 (b)(c)(d) | 251,813 | 195,442 | |
Bass Pro Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 3/5/28 (b)(c)(d) | 6,355,425 | 6,264,088 | |
BJ's Wholesale Club, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.4484% 2/3/27 (b)(c)(d) | 210,000 | 210,262 | |
Empire Today LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 5.000% 9.7086% 4/1/28 (b)(c)(d) | 275,790 | 213,541 | |
Hanesbrands, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.557% 3/8/30 (b)(c)(d) | 160,000 | 159,200 | |
Harbor Freight Tools U.S.A., Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.5903% 10/19/27 (b)(c)(d) | 214,337 | 207,210 | |
Michaels Companies, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.250% 9.4091% 4/15/28 (b)(c)(d) | 572,668 | 524,317 | |
Red Ventures LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.807% 3/3/30 (b)(c)(d) | 308,486 | 305,401 | |
RH: | |||
Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.500% 7.3403% 10/20/28 (b)(c)(d) | 462,950 | 432,164 | |
Tranche B2 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.157% 10/20/28 (b)(c)(d) | 447,750 | 420,187 | |
TOTAL SUPER RETAIL | 9,233,991 | ||
Technology - 15.7% | |||
A&V Holdings Midco LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.370% 10.5341% 3/10/27 (b)(c)(d) | 261,892 | 256,327 | |
Acuris Finance U.S., Inc. 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.000% 9.0483% 2/16/28 (b)(c)(d) | 240,365 | 231,452 | |
Alliance Laundry Systems LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.3059% 10/8/27 (b)(c)(d) | 211,989 | 209,769 | |
Anastasia Parent LLC Tranche B, term loan 3 month U.S. LIBOR + 3.750% 8.9091% 8/10/25 (b)(c)(d) | 791,376 | 623,208 | |
Applied Systems, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.3983% 9/19/26 (b)(c)(d) | 270,000 | 269,228 | |
Aptean, Inc. 1LN, term loan 3 month U.S. LIBOR + 4.250% 9.157% 4/23/26 (b)(c)(d) | 357,250 | 341,710 | |
Arches Buyer, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.157% 12/4/27 (b)(c)(d) | 169,175 | 158,989 | |
Athenahealth Group, Inc.: | |||
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.2592% 2/15/29 (b)(c)(d) | 1,532,412 | 1,432,805 | |
Tranche DD 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 2/15/29 (b)(c)(d)(g) | 188,253 | 176,017 | |
AZZ, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 8.9676% 5/13/29 (b)(c)(d) | 324,925 | 324,382 | |
Byju's Alpha, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 8.000% 12.9281% 11/24/26 (b)(c)(d) | 399,098 | 323,393 | |
Camelot Finance SA: | |||
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 10/31/26 (b)(c)(d) | 422,496 | 421,308 | |
Tranche B, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 10/31/26 (b)(c)(d) | 493,746 | 492,305 | |
Central Parent, Inc. 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 4.250% 9.1483% 7/6/29 (b)(c)(d) | 1,002,488 | 998,057 | |
Coherent Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.6715% 7/1/29 (b)(c)(d) | 654,664 | 647,299 | |
CommScope, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 4/4/26 (b)(c)(d) | 878,582 | 843,439 | |
ConnectWise LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.3403% 9/30/28 (b)(c)(d) | 511,028 | 492,375 | |
DCert Buyer, Inc.: | |||
1LN, term loan 3 month U.S. LIBOR + 4.000% 8.6956% 10/16/26 (b)(c)(d) | 904,716 | 884,080 | |
Tranche B 2LN, term loan 1 month U.S. LIBOR + 7.000% 11.6956% 2/19/29 (b)(c)(d) | 305,000 | 280,600 | |
DG Investment Intermediate Holdings, Inc.: | |||
2LN, term loan 1 month U.S. LIBOR + 6.750% 11.5903% 3/31/29 (b)(c)(d) | 95,000 | 83,046 | |
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.557% 3/31/28 (b)(c)(d) | 407,751 | 395,237 | |
Entegris, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.62% 7/6/29 (b)(c)(d) | 720,000 | 719,698 | |
Eos U.S. Finco LLC 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 6.000% 10.6042% 10/6/29 (b)(c)(d) | 225,000 | 221,249 | |
Gen Digital, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.000% 6.907% 9/12/29 (b)(c)(d) | 1,120,348 | 1,107,744 | |
Go Daddy Operating Co. LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.000% 6.8403% 8/10/27 (b)(c)(d) | 364,688 | 363,167 | |
GoDaddy, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.250% 8.057% 10/21/29 (b)(c)(d) | 283,620 | 283,089 | |
Hyland Software, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.3403% 7/1/24 (b)(c)(d) | 0 | (4) | |
Icon Luxembourg Sarl Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 2.250% 7.4099% 7/3/28 (b)(c)(d) | 1,149,965 | 1,146,135 | |
Imprivata, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.3849% 12/1/27 (b)(c)(d) | 460,600 | 448,509 | |
Maxar Technologies, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.250% 9.157% 6/9/29 (b)(c)(d) | 94,288 | 94,237 | |
McAfee Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.5152% 3/1/29 (b)(c)(d) | 585,853 | 549,237 | |
MH Sub I LLC: | |||
1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 9/15/24 (b)(c)(d) | 605,658 | 594,684 | |
Tranche B 2LN, term loan CME Term SOFR 1 Month Index + 6.250% 11.057% 2/23/29 (b)(c)(d) | 250,000 | 228,333 | |
Tranche B, term loan 3 month U.S. LIBOR + 3.750% 8.5903% 9/15/24 (b)(c)(d) | 520,850 | 511,245 | |
MKS Instruments, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 2.750% 7.6092% 8/17/29 (b)(c)(d) | 676,600 | 672,087 | |
Motus Group LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 12/10/28 (b)(c)(d) | 163,350 | 153,141 | |
NAVEX TopCo, Inc.: | |||
2LN, term loan 1 month U.S. LIBOR + 7.000% 11.64% 9/4/26 (b)(c)(d) | 85,000 | 83,247 | |
Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 7.89% 9/5/25 (b)(c)(d) | 329,475 | 327,689 | |
Open Text Corp. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.157% 8/25/29 (b)(c)(d) | 843,086 | 839,747 | |
Osmosis Debt Merger Sub, Inc. Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.000% 8.4835% 7/30/28 (b)(c)(d) | 341,682 | 328,657 | |
Park Place Technologies LLC 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.907% 11/10/27 (b)(c)(d) | 425,469 | 407,085 | |
Peraton Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 2/1/28 (b)(c)(d) | 1,922,853 | 1,894,818 | |
Polaris Newco LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.1591% 6/2/28 (b)(c)(d) | 1,087,509 | 989,329 | |
Project Boost Purchaser LLC 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 5/30/26 (b)(c)(d) | 361,875 | 356,675 | |
Proofpoint, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.0903% 8/31/28 (b)(c)(d) | 752,681 | 734,489 | |
Rackspace Technology Global, Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 2.750% 7.595% 2/15/28 (b)(c)(d) | 1,156,768 | 616,905 | |
RealPage, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 4/22/28 (b)(c)(d) | 736,332 | 712,976 | |
Red Planet Borrower LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 9/30/28 (b)(c)(d) | 373,954 | 261,300 | |
Renaissance Holdings Corp.: | |||
1LN, term loan CME Term SOFR 1 Month Index + 4.750% 3/16/30 (c)(d)(f) | 665,000 | 645,775 | |
Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.250% 8.0903% 5/31/25 (b)(c)(d) | 474,243 | 460,533 | |
Roper Industrial Products Investment Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.500% 9.3983% 11/22/29 (b)(c)(d) | 160,000 | 158,571 | |
Sophia LP Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.500% 8.6591% 10/7/27 (b)(c)(d) | 645,886 | 637,412 | |
Sovos Compliance LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.500% 9.3403% 8/11/28 (b)(c)(d) | 66,028 | 62,397 | |
SS&C Technologies, Inc.: | |||
Tranche B 3LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 4/16/25 (b)(c)(d) | 287,382 | 286,385 | |
Tranche B 4LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 4/16/25 (b)(c)(d) | 254,845 | 253,961 | |
Tranche B 5LN, term loan 1 month U.S. LIBOR + 1.750% 6.5903% 4/16/25 (b)(c)(d) | 512,521 | 510,922 | |
STG-Fairway Holdings LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.5903% 1/31/27 (b)(c)(d) | 224,114 | 222,575 | |
Tempo Acquisition LLC 1LN, term loan U.S. Secured Overnight Fin. Rate (SOFR) Index + 3.000% 7.807% 8/31/28 (b)(c)(d) | 632,903 | 631,587 | |
TTM Technologies, Inc. Tranche B, term loan 3 month U.S. LIBOR + 2.500% 7.173% 9/28/24 (b)(c)(d) | 141,247 | 140,834 | |
UKG, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5753% 5/4/26 (b)(c)(d) | 1,011,699 | 993,873 | |
Ultimate Software Group, Inc.: | |||
1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0319% 5/3/26 (b)(c)(d) | 583,989 | 568,203 | |
2LN, term loan 3 month U.S. LIBOR + 5.250% 10.0319% 5/3/27 (b)(c)(d) | 730,000 | 697,515 | |
Veritas U.S., Inc. Tranche B 1LN, term loan 3 month U.S. LIBOR + 5.000% 9.8403% 9/1/25 (b)(c)(d) | 354,094 | 267,784 | |
Verscend Holding Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.8403% 8/27/25 (b)(c)(d) | 511,568 | 510,397 | |
VFH Parent LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 3.000% 7.8592% 1/13/29 (b)(c)(d) | 594,000 | 571,167 | |
Virgin Pulse, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 4.000% 8.8403% 4/6/28 (b)(c)(d) | 275,800 | 225,985 | |
VM Consolidated, Inc. Tranche B 1LN, term loan 6 month U.S. LIBOR + 3.250% 8.1715% 3/27/28 (b)(c)(d) | 336,667 | 335,967 | |
VS Buyer LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.000% 7.6997% 2/28/27 (b)(c)(d) | 514,100 | 508,100 | |
Weber-Stephen Products LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 7.8849% 10/30/27 (b)(c)(d) | 336,596 | 288,325 | |
Zelis Payments Buyer, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 2/1/28 (b)(c)(d) | 230,684 | 229,388 | |
TOTAL TECHNOLOGY | 33,738,150 | ||
Telecommunications - 4.7% | |||
Altice Financing SA Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 5.000% 9.5656% 10/31/27 (b)(c)(d) | 475,000 | 469,063 | |
Altice France SA Tranche B14 1LN, term loan CME Term SOFR 1 Month Index + 5.500% 10.1703% 8/31/28 (b)(c)(d) | 981,026 | 931,975 | |
Aventiv Technologies LLC Tranche B, term loan: | |||
3 month U.S. LIBOR + 4.500% 9.6591% 11/1/24 (b)(c)(d) | 711,662 | 503,949 | |
3 month U.S. LIBOR + 8.250% 13.0753% 11/1/25 (b)(c)(d) | 1,100,000 | 595,375 | |
Cablevision Lightpath LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 7.9344% 11/30/27 (b)(c)(d) | 209,216 | 206,644 | |
Connect U.S. Finco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.14% 12/12/26 (b)(c)(d) | 271,428 | 269,392 | |
Consolidated Communications, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.375% 10/2/27 (b)(c)(d) | 264,182 | 207,581 | |
Crown Subsea Communications Holding, Inc.: | |||
1LN, term loan CME Term SOFR 1 Month Index + 5.250% 10.0296% 4/27/27 (b)(c)(d) | 210,000 | 206,588 | |
Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 4.750% 9.5297% 4/27/27 (b)(c)(d) | 212,363 | 208,912 | |
Frontier Communications Holdings LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 3.750% 8.625% 5/1/28 (b)(c)(d) | 1,278,900 | 1,211,221 | |
GTT Communications BV 1LN, term loan: | |||
CME Term SOFR 1 Month Index + 7.000% 11.907% 1/3/28 (b)(c)(d) | 156,784 | 125,740 | |
CME TERM SOFR 3 MONTH INDEX + 9.000% 13.9983% 6/3/28 (b)(c)(d) | 123,181 | 63,232 | |
Intelsat Jackson Holdings SA 1LN, term loan CME TERM SOFR 6 MONTH INDEX + 4.250% 9.0817% 2/1/29 (b)(c)(d) | 2,151,562 | 2,124,668 | |
Level 3 Financing, Inc. Tranche B 1LN, term loan 1 month U.S. LIBOR + 1.750% 6.6715% 3/1/27 (b)(c)(d) | 129,918 | 109,239 | |
Northwest Fiber LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.6207% 4/30/27 (b)(c)(d) | 692,908 | 669,093 | |
Patagonia Holdco LLC Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.750% 10.4734% 8/1/29 (b)(c)(d) | 435,609 | 358,289 | |
Radiate Holdco LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.250% 8.0903% 9/25/26 (b)(c)(d) | 437,085 | 356,067 | |
Windstream Services LLC Tranche B 1LN, term loan CME Term SOFR 1 Month Index + 6.250% 11.157% 9/21/27 (b)(c)(d) | 86,491 | 78,275 | |
Zayo Group Holdings, Inc. 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.8403% 3/9/27 (b)(c)(d) | 1,763,763 | 1,428,048 | |
TOTAL TELECOMMUNICATIONS | 10,123,351 | ||
Textiles/Apparel - 0.7% | |||
Crocs, Inc. Tranche B1 LN, term loan CME Term SOFR 1 Month Index + 3.500% 8.407% 2/17/29 (b)(c)(d) | 960,101 | 955,906 | |
Jo-Ann Stores LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.750% 9.5719% 7/7/28 (b)(c)(d) | 296,985 | 162,005 | |
Tory Burch LLC Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.500% 8.3403% 4/16/28 (b)(c)(d) | 432,300 | 401,231 | |
TOTAL TEXTILES/APPAREL | 1,519,142 | ||
Utilities - 2.5% | |||
Brookfield WEC Holdings, Inc.: | |||
1LN, term loan CME Term SOFR 1 Month Index + 3.750% 8.3676% 8/1/25 (b)(c)(d) | 184,075 | 183,523 | |
Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.5903% 8/1/25 (b)(c)(d) | 1,219,099 | 1,211,199 | |
Granite Generation LLC 1LN, term loan 1 month U.S. LIBOR + 3.750% 8.5903% 11/1/26 (b)(c)(d) | 131,666 | 123,561 | |
Limetree Bay Terminals LLC Tranche B 1LN, term loan 3 month U.S. LIBOR + 4.000% 9.1599% 2/15/24 (b)(c)(d) | 879,692 | 700,454 | |
Luxembourg Investment Co. 428 SARL Tranche B 1LN, term loan CME TERM SOFR 3 MONTH INDEX + 5.000% 10.0483% 1/3/29 (b)(c)(d) | 200,343 | 159,774 | |
PG&E Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.875% 6/23/25 (b)(c)(d) | 1,054,514 | 1,049,905 | |
Pike Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 3.000% 7.85% 1/21/28 (b)(c)(d) | 359,589 | 356,443 | |
Vertiv Group Corp. Tranche B 1LN, term loan 1 month U.S. LIBOR + 2.750% 7.4194% 3/2/27 (b)(c)(d) | 849,934 | 831,023 | |
Vistra Operations Co. LLC Tranche B 3LN, term loan 1 month U.S. LIBOR + 1.750% 6.564% 12/31/25 (b)(c)(d) | 838,429 | 833,088 | |
TOTAL UTILITIES | 5,448,970 | ||
TOTAL BANK LOAN OBLIGATIONS (Cost $195,079,063) | 185,296,054 | ||
Nonconvertible Bonds - 5.4% | |||
Principal Amount (a) | Value ($) | ||
Aerospace - 0.3% | |||
TransDigm, Inc.: | |||
6.25% 3/15/26 (h) | 500,000 | 500,455 | |
8% 12/15/25 (h) | 55,000 | 56,031 | |
TOTAL AEROSPACE | 556,486 | ||
Air Transportation - 0.1% | |||
American Airlines, Inc. / AAdvantage Loyalty IP Ltd. 5.5% 4/20/26 (h) | 165,000 | 162,378 | |
Delta Air Lines, Inc. / SkyMiles IP Ltd. 4.5% 10/20/25 (h) | 105,416 | 103,644 | |
TOTAL AIR TRANSPORTATION | 266,022 | ||
Automotive & Auto Parts - 0.5% | |||
Rivian Holdco & Rivian LLC & Rivian Automotive LLC 6 month U.S. LIBOR + 5.620% 10.1636% 10/15/26 (b)(c)(h) | 1,170,000 | 1,154,053 | |
Broadcasting - 0.2% | |||
DISH Network Corp. 11.75% 11/15/27 (h) | 350,000 | 339,500 | |
Univision Communications, Inc. 6.625% 6/1/27 (h) | 170,000 | 161,194 | |
TOTAL BROADCASTING | 500,694 | ||
Cable/Satellite TV - 0.2% | |||
CCO Holdings LLC/CCO Holdings Capital Corp.: | |||
5% 2/1/28 (h) | 140,000 | 129,150 | |
5.375% 6/1/29 (h) | 285,000 | 261,701 | |
Radiate Holdco LLC/Radiate Financial Service Ltd. 4.5% 9/15/26 (h) | 167,000 | 130,678 | |
TOTAL CABLE/SATELLITE TV | 521,529 | ||
Capital Goods - 0.0% | |||
Chart Industries, Inc. 7.5% 1/1/30 (h) | 30,000 | 30,997 | |
Chemicals - 0.0% | |||
Kronos Acquisition Holdings, Inc. / KIK Custom Products, Inc. 5% 12/31/26 (h) | 5,000 | 4,573 | |
Containers - 0.2% | |||
Ardagh Packaging Finance PLC/Ardagh MP Holdings U.S.A., Inc. 4.125% 8/15/26 (h) | 415,000 | 386,988 | |
Energy - 0.2% | |||
Citgo Petroleum Corp.: | |||
6.375% 6/15/26 (h) | 35,000 | 34,125 | |
7% 6/15/25 (h) | 100,000 | 98,660 | |
New Fortress Energy, Inc.: | |||
6.5% 9/30/26 (h) | 75,000 | 69,000 | |
6.75% 9/15/25 (h) | 75,000 | 72,188 | |
Transocean Poseidon Ltd. 6.875% 2/1/27 (h) | 113,750 | 111,475 | |
TOTAL ENERGY | 385,448 | ||
Gaming - 0.7% | |||
Caesars Entertainment, Inc. 7% 2/15/30 (h) | 135,000 | 137,363 | |
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. 4.625% 1/15/29 (h) | 875,000 | 767,988 | |
Golden Entertainment, Inc. 7.625% 4/15/26 (h) | 250,000 | 252,125 | |
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp. 5.875% 5/15/25 (h) | 300,000 | 286,500 | |
VICI Properties LP / VICI Note Co.: | |||
3.5% 2/15/25 (h) | 35,000 | 33,170 | |
4.25% 12/1/26 (h) | 50,000 | 46,651 | |
TOTAL GAMING | 1,523,797 | ||
Healthcare - 0.1% | |||
Tenet Healthcare Corp. 4.625% 7/15/24 | 104,000 | 102,588 | |
Homebuilders/Real Estate - 0.2% | |||
MPT Operating Partnership LP/MPT Finance Corp. 5% 10/15/27 | 210,000 | 172,725 | |
Uniti Group LP / Uniti Group Finance, Inc. 10.5% 2/15/28 (h) | 335,000 | 324,950 | |
TOTAL HOMEBUILDERS/REAL ESTATE | 497,675 | ||
Insurance - 0.1% | |||
Alliant Holdings Intermediate LLC 6.75% 4/15/28 (h) | 295,000 | 291,681 | |
Leisure - 0.1% | |||
Royal Caribbean Cruises Ltd.: | |||
8.25% 1/15/29 (h) | 145,000 | 151,497 | |
11.625% 8/15/27 (h) | 100,000 | 107,355 | |
TOTAL LEISURE | 258,852 | ||
Paper - 0.1% | |||
Ardagh Metal Packaging Finance U.S.A. LLC/Ardagh Metal Packaging Finance PLC 3.25% 9/1/28 (h) | 135,000 | 116,911 | |
Services - 0.5% | |||
Adtalem Global Education, Inc. 5.5% 3/1/28 (h) | 347,000 | 329,216 | |
Aramark Services, Inc. 6.375% 5/1/25 (h) | 90,000 | 90,662 | |
PowerTeam Services LLC 9.033% 12/4/25 (h) | 670,000 | 576,304 | |
TOTAL SERVICES | 996,182 | ||
Super Retail - 0.2% | |||
EG Global Finance PLC: | |||
6.75% 2/7/25 (h) | 125,000 | 115,625 | |
8.5% 10/30/25 (h) | 260,000 | 243,365 | |
TOTAL SUPER RETAIL | 358,990 | ||
Technology - 0.1% | |||
CommScope, Inc. 6% 3/1/26 (h) | 150,000 | 144,765 | |
Maxar Technologies, Inc. 7.75% 6/15/27 (h) | 145,000 | 151,516 | |
TOTAL TECHNOLOGY | 296,281 | ||
Telecommunications - 1.4% | |||
Altice Financing SA 5.75% 8/15/29 (h) | 1,000,000 | 795,000 | |
Altice France SA: | |||
5.125% 1/15/29 (h) | 80,000 | 60,962 | |
5.125% 7/15/29 (h) | 145,000 | 109,113 | |
5.5% 1/15/28 (h) | 1,000,000 | 807,500 | |
Frontier Communications Holdings LLC 5% 5/1/28 (h) | 160,000 | 138,842 | |
Intelsat Jackson Holdings SA 6.5% 3/15/30 (h) | 535,000 | 490,451 | |
LCPR Senior Secured Financing DAC 6.75% 10/15/27 (h) | 150,000 | 139,776 | |
Windstream Escrow LLC 7.75% 8/15/28 (h) | 500,000 | 409,485 | |
TOTAL TELECOMMUNICATIONS | 2,951,129 | ||
Utilities - 0.2% | |||
Exgen Texas Power LLC 3 month U.S. LIBOR + 6.750% 11.5319% 10/8/26 (b)(c)(e) | 415,788 | 418,906 | |
TOTAL NONCONVERTIBLE BONDS (Cost $12,531,248) | 11,619,782 | ||
Common Stocks - 1.6% | |||
Shares | Value ($) | ||
Capital Goods - 0.1% | |||
TNT Crane & Rigging LLC (e)(i) | 24,748 | 221,000 | |
TNT Crane & Rigging LLC warrants 10/31/25 (e)(i) | 3,037 | 1,731 | |
TOTAL CAPITAL GOODS | 222,731 | ||
Diversified Financial Services - 0.1% | |||
ACNR Holdings, Inc. (e)(i) | 1,891 | 182,425 | |
Lime Tree Bay Ltd. (e)(i) | 153 | 4,354 | |
TOTAL DIVERSIFIED FINANCIAL SERVICES | 186,779 | ||
Energy - 0.9% | |||
California Resources Corp. | 15,179 | 584,392 | |
California Resources Corp. warrants 10/27/24 (i) | 920 | 7,820 | |
Chesapeake Energy Corp. | 9,834 | 747,777 | |
Chesapeake Energy Corp. (i)(j) | 137 | 10,417 | |
Denbury, Inc. (i) | 7,505 | 657,663 | |
EP Energy Corp. (e)(i) | 3,190 | 20,831 | |
TOTAL ENERGY | 2,028,900 | ||
Entertainment/Film - 0.0% | |||
Cineworld Group PLC warrants 11/23/25 (i) | 53,143 | 1 | |
Restaurants - 0.1% | |||
CEC Entertainment, Inc. (e)(i) | 15,069 | 247,282 | |
Super Retail - 0.0% | |||
David's Bridal, Inc. rights (e)(i) | 156 | 0 | |
Telecommunications - 0.0% | |||
GTT Communications, Inc. (e) | 3,248 | 40,114 | |
Utilities - 0.4% | |||
TexGen Power LLC (e)(i) | 25,327 | 797,801 | |
TOTAL COMMON STOCKS (Cost $2,679,863) | 3,523,608 | ||
Nonconvertible Preferred Stocks - 0.3% | |||
Shares | Value ($) | ||
Diversified Financial Services - 0.3% | |||
ACNR Holdings, Inc. (e)(i) (Cost $135,375) | 1,083 | 631,995 | |
Preferred Securities - 0.3% | |||
Principal Amount (a) | Value ($) | ||
Banks & Thrifts - 0.2% | |||
Bank of America Corp. 6.25% (b)(k) | 210,000 | 205,982 | |
JPMorgan Chase & Co. 6% (b)(k) | 130,000 | 128,509 | |
TOTAL BANKS & THRIFTS | 334,491 | ||
Energy - 0.1% | |||
Energy Transfer LP 3 month U.S. LIBOR + 4.020% 8.8916% (b)(c)(k) | 355,000 | 319,681 | |
TOTAL PREFERRED SECURITIES (Cost $671,898) | 654,172 | ||
Other - 0.0% | |||
Shares | Value ($) | ||
Other - 0.0% | |||
Tribune Co. Claim (e)(i) (Cost $29,756) | 30,115 | 8,038 | |
Money Market Funds - 5.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 4.86% (l) (Cost $12,427,381) | 12,425,175 | 12,427,660 | |
TOTAL INVESTMENT IN SECURITIES - 99.5% (Cost $223,554,584) | 214,161,309 |
NET OTHER ASSETS (LIABILITIES) - 0.5% | 1,073,453 |
NET ASSETS - 100.0% | 215,234,762 |
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(c) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(d) | Remaining maturities of bank loan obligations may be less than the stated maturities shown as a result of contractual or optional prepayments by the borrower. Such prepayments cannot be predicted with certainty. |
(e) | Level 3 security |
(f) | The coupon rate will be determined upon settlement of the loan after period end. |
(g) | Position or a portion of the position represents an unfunded loan commitment. At period end, the total principal amount and market value of unfunded commitments totaled $390,722 and $375,854, respectively. |
(h) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $10,925,563 or 5.1% of net assets. |
(i) | Non-income producing |
(j) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $10,417 or 0.0% of net assets. |
(k) | Security is perpetual in nature with no stated maturity date. |
(l) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Chesapeake Energy Corp. | 2/10/21 | 1,297 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.86% | 12,086,932 | 38,270,757 | 37,930,030 | 282,240 | - | 1 | 12,427,660 | 0.0% |
Fidelity Securities Lending Cash Central Fund 4.87% | 9,575 | 2,320,674 | 2,330,249 | 85 | - | - | - | 0.0% |
Total | 12,096,507 | 40,591,431 | 40,260,279 | 282,325 | - | 1 | 12,427,660 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1 | - | 1 | - |
Consumer Discretionary | 247,282 | - | - | 247,282 |
Energy | 2,028,900 | 2,008,069 | - | 20,831 |
Financials | 818,774 | - | - | 818,774 |
Industrials | 222,731 | - | - | 222,731 |
Information Technology | 40,114 | - | - | 40,114 |
Utilities | 797,801 | - | - | 797,801 |
Bank Loan Obligations | 185,296,054 | - | 183,492,975 | 1,803,079 |
Corporate Bonds | 11,619,782 | - | 11,200,876 | 418,906 |
Preferred Securities | 654,172 | - | 654,172 | - |
Other | 8,038 | - | - | 8,038 |
Money Market Funds | 12,427,660 | 12,427,660 | - | - |
Total Investments in Securities: | 214,161,309 | 14,435,729 | 195,348,024 | 4,377,556 |
Investments in Securities: | |||
Bank Loan Obligations | |||
Beginning Balance | $ | 6,730,694 | |
Net Realized Gain (Loss) on Investment Securities | 563 | ||
Net Unrealized Gain (Loss) on Investment Securities | 3,502 | ||
Cost of Purchases | 454,205 | ||
Proceeds of Sales | (1,418,398) | ||
Amortization/Accretion | 830 | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (3,968,317) | ||
Ending Balance | $ | 1,803,079 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at March 31, 2023 | $ | (22,862) | |
Other Investments in Securities | |||
Beginning Balance | $ | 2,438,120 | |
Net Realized Gain (Loss) on Investment Securities | 318 | ||
Net Unrealized Gain (Loss) on Investment Securities | 57,699 | ||
Cost of Purchases | 101,121 | ||
Proceeds of Sales | (22,780) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (1) | ||
Ending Balance | $ | 2,574,477 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at March 31, 2023 | $ | 57,699 | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
March 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $211,127,203) | $ | 201,733,649 | ||
Fidelity Central Funds (cost $12,427,381) | 12,427,660 | |||
Total Investment in Securities (cost $223,554,584) | $ | 214,161,309 | ||
Cash | 658,307 | |||
Receivable for investments sold | 3,566,645 | |||
Receivable for fund shares sold | 1,617,437 | |||
Dividends receivable | 176 | |||
Interest receivable | 1,638,289 | |||
Distributions receivable from Fidelity Central Funds | 56,565 | |||
Receivable from investment adviser for expense reductions | 2,751 | |||
Total assets | 221,701,479 | |||
Liabilities | ||||
Payable for investments purchased | $ | 4,671,133 | ||
Payable for fund shares redeemed | 220,255 | |||
Distributions payable | 1,558,448 | |||
Other payables and accrued expenses | 16,881 | |||
Total Liabilities | 6,466,717 | |||
Net Assets | $ | 215,234,762 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 255,362,151 | ||
Total accumulated earnings (loss) | (40,127,389) | |||
Net Assets | $ | 215,234,762 | ||
Net Asset Value , offering price and redemption price per share ($215,234,762 ÷ 24,255,693 shares) | $ | 8.87 |
Statement of Operations | ||||
Six months ended March 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 87,723 | ||
Interest | 8,409,803 | |||
Income from Fidelity Central Funds (including $85 from security lending) | 282,325 | |||
Total Income | 8,779,851 | |||
Expenses | ||||
Custodian fees and expenses | $ | 26,937 | ||
Independent trustees' fees and expenses | 398 | |||
Total expenses before reductions | 27,335 | |||
Expense reductions | (27,205) | |||
Total expenses after reductions | 130 | |||
Net Investment income (loss) | 8,779,721 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (632,335) | |||
Total net realized gain (loss) | (632,335) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 4,972,751 | |||
Fidelity Central Funds | 1 | |||
Total change in net unrealized appreciation (depreciation) | 4,972,752 | |||
Net gain (loss) | 4,340,417 | |||
Net increase (decrease) in net assets resulting from operations | $ | 13,120,138 |
Statement of Changes in Net Assets | ||||
Six months ended March 31, 2023 (Unaudited) | Year ended September 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 8,779,721 | $ | 12,798,717 |
Net realized gain (loss) | (632,335) | (728,408) | ||
Change in net unrealized appreciation (depreciation) | 4,972,752 | (15,907,828) | ||
Net increase (decrease) in net assets resulting from operations | 13,120,138 | (3,837,519) | ||
Distributions to shareholders | (8,892,072) | (12,543,924) | ||
Share transactions | ||||
Proceeds from sales of shares | 20,192,703 | 15,841,715 | ||
Reinvestment of distributions | 8,867,628 | 12,544,717 | ||
Cost of shares redeemed | (35,400,292) | (80,192,394) | ||
Net increase (decrease) in net assets resulting from share transactions | (6,339,961) | (51,805,962) | ||
Total increase (decrease) in net assets | (2,111,895) | (68,187,405) | ||
Net Assets | ||||
Beginning of period | 217,346,657 | 285,534,062 | ||
End of period | $ | 215,234,762 | $ | 217,346,657 |
Other Information | ||||
Shares | ||||
Sold | 2,288,867 | 1,740,167 | ||
Issued in reinvestment of distributions | 1,002,414 | 1,387,251 | ||
Redeemed | (4,027,606) | (8,850,206) | ||
Net increase (decrease) | (736,325) | (5,722,788) | ||
Fidelity® Series Floating Rate High Income Fund |
Six months ended (Unaudited) March 31, 2023 | Years ended September 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 8.70 | $ | 9.30 | $ | 8.86 | $ | 9.29 | $ | 9.52 | $ | 9.49 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .367 | .457 | .388 | .463 | .547 | .540 | ||||||
Net realized and unrealized gain (loss) | .175 | (.607) | .435 | (.439) | (.131) | (.001) | ||||||
Total from investment operations | .542 | (.150) | .823 | .024 | .416 | .539 | ||||||
Distributions from net investment income | (.372) | (.450) | (.383) | (.454) | (.646) | (.509) | ||||||
Total distributions | (.372) | (.450) | (.383) | (.454) | (.646) | (.509) | ||||||
Net asset value, end of period | $ | 8.87 | $ | 8.70 | $ | 9.30 | $ | 8.86 | $ | 9.29 | $ | 9.52 |
Total Return C,D | 6.31% | (1.69)% | 9.44% | .37% | 4.61% | 5.82% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .03% G | .03% | .01% | .01% | .01% | .01% | ||||||
Expenses net of fee waivers, if any | -% G,H | -% H | -% H | .01% | .01% | .01% | ||||||
Expenses net of all reductions | -% G,H | -% H | -% H | .01% | .01% | -% H | ||||||
Net investment income (loss) | 8.32% G | 5.02% | 4.24% | 5.22% | 5.87% | 5.68% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 215,235 | $ | 217,347 | $ | 285,534 | $ | 269,060 | $ | 264,583 | $ | 461,203 |
Portfolio turnover rate I | 34% G | 28% | 45% | 37% | 33% | 52% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $2,147,533 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 2.0 - 8.0 / 4.6 | Increase |
Capacity multiple ($/kW) | $238.00 | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Market approach | Parity price | $12.35 | Increase | ||
Discounted cash flow | Discount rate | 13.3% | Decrease | ||
Black scholes | Discount rate | 3.7% - 4.1% / 4.0% | Increase | ||
Volatility | 20.0% - 55.0%/30.0% | Increase | |||
Term | 1.8 - 2.5/2.0 | Increase | |||
Corporate Bonds | $418,906 | Discounted cash flow | Yield | 10.2% | Decrease |
Bank Loan Obligations | $1,803,079 | Market Approach | Transaction price | $95.00 | Increase |
Discounted cash flow | Discount rate | 10.4% | Decrease | ||
Yield | 14.0% - 19.4% / 14.6% | Decrease | |||
Indicative market price | Evaluated bid | $86.00 - $97.00 / $94.00 | Increase | ||
Other | $8,038 | Recovery value | Recovery value | $0.27 | Increase |
Gross unrealized appreciation | $3,352,946 |
Gross unrealized depreciation | (12,024,390) |
Net unrealized appreciation (depreciation) | $(8,671,444) |
Tax cost | $222,832,753 |
Short-term | $(175,510) |
Long-term | (30,833,575) |
Total capital loss carryforward | $(31,009,085) |
Purchases ($) | Sales ($) | |
Fidelity Series Floating Rate High Income Fund | 33,576,230 | 38,541,408 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Series Floating Rate High Income Fund | $9 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (October 1, 2022 to March 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value October 1, 2022 | Ending Account Value March 31, 2023 | Expenses Paid During Period- C October 1, 2022 to March 31, 2023 | |||||||
Fidelity® Series Floating Rate High Income Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,063.10 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,024.93 | $- E | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
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Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Summer Street Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Summer Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Summer Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | May 19, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | May 19, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | May 19, 2023 |